Oz,
Do a google search on Vale, they may abandon the mine expansion, credit rating has been cut a few notches, debt pile is increasing and they will find it difficult to match the OZ boys.
No way they will double, suicidal move. Deutsche Bank has already called for a divestment of mine assets, and they are No. 1.
At $65.0mt even being the No. 1, their margin fell below 20.00% for the first time in 20 years, at $40.0mt what will their margin be?? Dividends were halved.
How will the service/repay debt? The advantage they have is that the Brazilian Govt is a major holder and will assist if push come to shove.
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